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Teslas big fall on top of the last two days fall might be because of the realisation by pundits that Teslas path to glory may be getting a few hurdles placed in its way.

Nikola and its electric truck are well ahead of the tesla version, in that you can actually order and receive a Nikola truck.

Their mix of pure electric and hydrogen fuel cell powered vehicles while not as big as the retail passenger side of Tesla, has made big inroads into the commercial fleet.

They have recently had an order fro 2500 electric waste collection trucks for republic services, with the option to go to 5,000 trucks.

They have now done a deal with GM to sub contract build its trucks. FromBusiness Insider

But on Tuesday, Nikola revealed it formed a partnership with General Motors. The biggest US automaker by sales said it would act as a contract manufacturer for the Nikola Badger pickup and contribute fuel-cell powertrain technology to Nikola’s heavy-freight truck. GM also took a $US2 billion equity stake in Nikola, echoing investments it has made in the self-driving startup Cruise and the ride-hailing company Lyft.

 

GM will build the Badger using a new EV platform and its Ultium battery technology, which it revealed at the beginning of 2020. (GM didn’t offer details on the plant that will get the vehicle, but production is slated for late 2022.)

 

“Avoiding building a factory saved us billions,†Nikola founder Trevor Milton said on a conference call with the media after the news was announced. “That was a big fear of ours. But now bam, we’re in production.â€

They are also setting up a large hydrogen distribution network.

One of the advantages of the fuel cell is that the powertrain systems are exactly the same as a pure EV, but the Electricty is provided by a hydrogen burning fuel cell rather than batteries.

It takes a few minutes to refill the hydrogen cells versus a few hours at the EV pump.

Should be interesting in the future.

Look out or the the techos developing small standalone hydrogen production units.

One thing I take issue with in some of the sales pitch is the talk about zero emissions.

While Hydrogen is not one of the dreaded fossil fuels, when it "burns" and combines with oxygen to produce the power, the output is water, which given the temps being used, will likely be in the form of a gas, water vapour. Water vapour is a far more potent greenhouse gas than Co2.

Just sayin.

Mick

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And on the other side, there are a few cracks appearing in the Nikola fortress.

From Zero hedge

 

For example, we have been reporting on the unfolding battle between Nikola and short seller Hindenburg Research who, last week published a scathing (nearly 100 page) report calling the company an "intricate fraud" and comparing it to Theranos.

 

Nikola shares fell almost 25% over the last two trading days of the week last week after founder Trevor Milton failed to reassure the market about Hindenburg's claims of fake product launches and potentially deceiving both investors - and General Motors - that followed similar reporting from Bloomberg weeks ago. Naturally, Milton has been in damage control mode since Thursday when the report was released, but instead of refuting the claims has been repeatedly attacking the messenger(s), lashing out in profanity-laden tirades on his Instagram account (see here) and promising substantial responses via Twitter which have yet to come. On Friday morning the company "responded" likely by heeding the advice of its counsel and putting out a perfunctory 5 paragraph press release despite a prior promise of a detailed debunking.

 

But Milton has remained active on Twitter and, in a series of Tweets last night discussing the whereabouts of the clean energy guru's own gassed up private plane (which is being actively watched by some Twitter accounts), Milton comments: "Those are employees heading to Germany for the Nikola Tre trucks.. You know, the that were not suppose to exist according to the hit job. Lol. I'm in utah / Arizona for the weekend."

 

This midnight scramble could be a planned response to Hindenburg pointing out that Nikola's founder had claimed the trucks were already coming off the assembly line months ago. "We have five of them coming off the assembly line right now in Ulm Germany," Milton said on a podcast back in July 2020.

 

Nikola President Mark Russell also said on August 4 that the Nikola Tre trucks were “coming off the end of the facility at this

point.â€But Hindenburg called the company's partner, Bosch, who reportedly told them: "No they are not ready yet. I don’t know exactly the year but we’re working on it."

 

Perhaps in an effort to debunk Bosch's comments, Milton apparently thought it wise to post pictures of what appear to be uncompleted Nikola Tre trucks still being built in a work area that looks nothing like an assembly line.

Regardless of the answers to these questions, Milton has also failed to simply outright deny some of the boldest claims in the Hindenburg report, including the claim that the company's Nikola One Semi Truck demonstration video was a non-working semi truck that was simply pushed down a hill in the desert.

 

In fact, when FT followed up with Nikola President Russell, he offered a resounding "no comment":

Perhaps it was all marketing hype after all.

Who woulda thunk it!

 

Mick

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speaking at the much hyped Battery Day, EM said a few things and TLSA shares fell heavily

Building an affordable electric car has always been our dream from the beginning of the company, Musk told an online audience of more than 270,000.

 

However, Musk described a new generation of electric vehicle batteries that will be more powerful, longer lasting and half as expensive than the company's current cells .

 

The new Tesla larger cylindrical cells, called 4680, will provide five times more energy, six times more power and 16 per cent greater driving range, Musk said, adding that full production is about three years away.

 

We do not have an affordable car. That's something we will have in the future. But we've got to get the cost of batteries down, Musk said.

 

To help reduce cost, Musk said Tesla planned to recycle battery cells at its Nevada gigafactory, while reducing cobalt, one of the most expensive battery materials, to virtually zero. It also plans to make its own battery cells at several highly automated factories around the world.

 

Tesla will produce the new battery cells initially on a new assembly line near its vehicle plant in Fremont, California, with planned output reaching 10 gigawatt hours a year by the end of next year. Tesla and partner Panasonic now have production capacity of about 35 gWh at the Nevada battery gigafactory.

 

Tesla aims to rapidly ramp up battery production over the next few years, to 3 terawatt hours a year, or 3000 gigawatt hours; .... roughly 85 times greater than the capacity of the Nevada plant.

 

The car maker plans to produce the new cells via a highly automated, continuous motion assembly process, according to Drew Baglino, Tesla senior vice president of powertrain and energy engineering.

 

Musk acknowledged that Tesla does not have its new battery design and manufacturing process fully complete.

 

 

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fyi,

 

 

"The global electric vehicle market at $39.8 billion in 2018 is projected to reach $1.5 trillion by 2025. Units sales are anticipated to reach 97 million vehicles worldwide by 2025" - Wintergreen Research Inc.

 

 

Ideanomics Reported Q2 Revenue of $4.7 million and Forecasts Quarter-over-Quarter EV Sales Growth in Q3 and Q4 2020

 

 

September 2020 - There are many investment opportunities for investors who want to capitalize on the growing EV industry. Leading the way is Tesla (Nasdaq-TSLA) who has seen tremendous amount of market attention and share appreciation in 2020. One company that is doing creative business in the EV sector is Ideanomics Inc. (Nasdaq-IDEX).

 

Ideanomics current focus is on commercial electric vehicle acquisitions and assisting commercial fleet operators with transitioning from their gas & diesel fleets through a procurement, lease financing, insurance, government rebates and subsidies, battery purchases and prepaid energy supply process and therefore providing “End to End†EV services.

 

Ideanomics names their platform “Sales to Financing to Charging†(S2F2C) business model.

 

Commercial fleet vehicles include heavy- duty trucks, logistic vehicles, buses, taxis, couriers, and the like.

 

China currently has an estimated 11 million heavy- duty trucks and off-road vehicles, 14 million delivery vehicles, 1.6 million city and tourist buses, 1.2 million taxis/ride-sharing vehicles, and more than 100,000 gas stations which are going to be converted into battery charging stations.

 

Ideanomics is doing business with these Chinese commercial fleet operators and is providing EV acquisitions, wholesale and pre-paid electricity or discounted access to Ideanomics’ preferred partner charging stations, which will be a recurring revenue stream for the Company.

 

Ideanomics established a new division named the Medici Motor Works to manufacture and sell EV Trucks, Vans & Bus into North America and other parts of the world.

 

To operate successfully in China Ideanomics has Chinese American entrepreneur billionaire Dr. Bruno Wu, who is the Chairman of Ideanomics who owns a 19% equity stake in the Company. Dr. Bruno Wu’s wife, Yang Lan, is a high-profile Chinese media personality who is often referred to as the Oprah Winfrey of China.

 

Vice Chairman Mr. Shane McMahon owns 4% and is from the multi billionaire American McMahon family which owns World Wresting Entertainment. (WWE)

 

Ideanomics recently reported Q2 revenue of $4.7 million, up from $378,000 in Q1. The Company ended the quarter with reducing its debt by ~ 50% and US$36.4 million in cash, which it says could be used for acquisitions later this year. IDEX called the second quarter its best mobile energy results since moving into electric vehicle sales. Further, Ideanomics forecasts quarter-over-quarter growth in Q3 and Q4 2020.

 

Another important component of IDEX’s future growth will come from its 51% majority ownership of Treeletrik, an approved electric vehicles manufacturer and distributor for Malaysia. As Treeletrik expands its product line to electric vehicle E bikes, mopeds, cars, and light rail cars and serving the 650 million people in the ASEAN region which includes Malaysia, Cambodia, Vietnam, Philippines, Indonesia, Laos, Singapore, and Brunei.

 

As the global EV sector continues its current growth trajectory with China being the largest EV market in the world, making up 57% of the global market as of April 2020; along with a market cap of $250 M and strong institutional and fund ownership with shareholders like BlackRock, Vanguard, State Street, Charles Schwab, Barclay's, and Fidelity, Ideanomics is well positioned to take advantage of this growth and capitalize on the EV market and provide investors with an opportunity for significant ROI.

 

 

Ideanomics Inc. (Nasdaq-IDEX) End to End EV Solutions

 

 

Revenue of $4.7 million Q2 and Expects Quarter-Over-Quarter Growth in Q3 and Q4 2020

 

 

 

557 EV Units Processed at MEG EV Center in Qingdao for July & August an Increase from Q 2

 

 

China is already the largest EV market in the world, making up 57% of the global market as of April 2020.

 

 

Ideanomics reported $4.7M Q2 in revenues in August. Most of the performance and growth of the company was brought about by the EV sales business of MEG, a Chinese subsidiary of Ideanomics.

 

 

Proactive Investor CEO Interview

 

Sept 17, 2020

 

 

 

 

Ideanomics Revenue Streams

 

 

Commercial EV Sales

 

Lease Financing – Sales

 

Qingdao EV Hub Sales

 

Medici Motor Works Trucks, Vans & Bus Sales

 

Treeletrik E Bike Sales

 

 

 

 

Energy Sales

 

Prepaid Electricity Commercial Fleet Sales

 

EV Fast Charging Network Sales

 

5G Smart City Energy Sales

 

Electricity Debit Card Sales (with China’s Union Pay)

 

 

 

 

Share Structure August 4, 2020

 

 

Market Cap $389,177,181

 

Outstanding Shares 237,303,159

 

Restricted Shares 73,424,144

 

Unrestricted Shares 163,531,862

 

52 Week Hi-lo $3.98-$0.27

 

 

Major Institutional Ownership: BlackRock, Vanguard, State Street, Charles Schwab, Barclay's, Fidelity

 

 

Symbol: IDEX: Nasdaq

 

www.ideanomics.com

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All mainstream manufacturers (where Tesla wants to go) make the bulk of their profits off of service, repairs and parts.

Until Tesla can make the actual selling of their cars magnificently profitable, there is going to be endless refinancing, new investors and government grants.

Not investment worthy.

That companies like Tesla exist, isn't a testament to Musk or the technology, but rather a sign of how sick our currency, and by implication, our economies really are.

I still sit this one out. I'll stick with my dividend and franking credit spewing portfolio thanks.

 

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